Canadian mining firm Uru Metals has raised £300,000 through a private placement to advance its Zebediela nickel project in South Africa.
The funding will be used to analyze geophysical data, with a primary focus on identifying higher nickel grades in zones one and two, while also exploring potential new deposits in zone three.
The Zebediela project holds an indicated resource of 485.4 million tons with an average nickel grade of 0.245%. The newly secured funds will support groundwork for an NI 43-101 compliant technical report, further defining the project’s mineral potential.
Uru Metals has appointed brokerage firm Axis as a joint broker to support its financing and strategic initiatives.
“As activities gain momentum at the Zebediela project, we are pleased to partner with Axis. These funds are crucial in accelerating our ongoing work program, and we look forward to providing market updates in the near future,” stated John Zorbas, CEO of Uru Metals.
